Low tricks the banks will play

Niall Brady finds out how to avoid some of the latest pitfalls facing Irish account holders — and tells you how to get a better deal

Description: 2-11-10 "Today marks the first opportunity for Irish people to make regular savings in physical gold as IrelandÕs leading gold bullion company GoldCore launches its GoldSaver Account. Celebrating the launch of this golden opportunity in Dublin was Ashleigh Berry,22mth with Siobhan Berry.

IRISH banks and building societies offer some of the worst deals in Europe,
despite a taxpayer-funded bailout that has driven the country to the verge
of bankruptcy.

New figures from the European central bank (ECB) show that Ireland was the
second most expensive country in September for overdrafts, credit cards and
personal loans among the 16 nations that use the euro (see chart).

Mortgages are costlier, too, with borrowers in Ireland paying an average of
2.96% interest on new loans taken out in September, compared with a eurozone
average of 2.75%. Existing homeowners pay under the odds, with many having
competitive trackers that prevent banks from increasing profit margins at
will. New borrowers cannot get trackers, however.

Ireland’s financial crisis has been better for savers, with cash-strapped
banks offering good returns for deposits. Rates averaged 0.63% in September
for demand deposits, with only savers in Cyprus, Germany and Luxembourg
earning